Thanks for the reply. I have Visual Voicemail subscription included in my plan..I am able to use the visual voicemail feature on my iPhone to manage my voicemail messages...when I tap on the voicemails as you describe, I do not see any transcription. Perhaps I need to call Verizon?
A couple other thoughts come to mind....
You're using an iPhone 7, and that works with the VM transcription (it's only supported in the iPhone SE, 6S/6S+, and 7/7+). So you're good there.
Sometimes the servers will take some time to do the transcription if they are busy. Most of the time, the transcription is fairly quick, but not always. Has it been over 24 hours since you got a VM message?
Also, if you are on a cellular network, your device may be waiting for you to connect to wifi in order to save your data plan. If you have not connected to wifi recently, try doing so and see if that helps the transcriptions.
Another troubleshooting step Apple recommends is trying Dictation in another app. Doing so can spark your device’s voicemail transcriptions to work. Switch to an app like Notes and use Dictation to save a note, then check your voicemail transcriptions once more. Give it the old kick start!
Lastly, have you tried leaving yourself a VM from another phone? Might be worth a shot.